The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-27
SOME COLD FACTS.
Ex.Stockholder Taylor on the ttreet
Railway Companies.


Attorney JuliuI Taylor, Of Taylor
4 Carroll, in answer to the question oil
an ArrEAL representative IS 10 what
he thought Of the controversy beirg
wsged bstween the city and the street
railroad companies, said: "Iam per.
iectly willing 10 talk TO the APpEAL,
but don't know much to soy, az have
severed all CONNECTION with the com.
paniss since December 20, 1885. I OPP
pissed the consolidation OF tho two
roads, and when ! saw that there was
Q determination 10 consolidate at ell
events I, along with Mr.. Carroll, sold
my stock, and was aftsrward followed
by j. 7. Fatgason and w ]. Crawford,
who we're also opposed to the conto,i.
dstion. They bad no power to con.
solldate without the consent OF the
Legislative Council, and that they
have never bad. / and Mr.. Carroll
owned $4,000 worth Of stock each. We
had been the attorneys OF the old road,
and tlr long time l was one OF the
directors OF H. 1 and my friends
owned fl5S,0O0 worth OF stock. aud
Barrett aud Frayser owned sl47,000
worth. Trey hlAlly kought rs out,
ssa When the Citissns' Company waS
i,fntc. alorg with Me-. Fargsson and
Others, | TOOK stock In H. Having
rcli cat nv stock in the old company
-; personal res,ons, l naturally op.
paset coap.irg ny interest With the
t:ceihaltsrs o, that company, and
did 90 10 The extent al absolute with
tssL. cannot cay Jus, whose prop
cation u vss. bui the measure OF con.
t;lidaiion came from the CitIsns'
Company. WiihoR: authority OF lav,
they vent ahead and consolidated. /
sAs not q, the meetings, bat when
they had ioimu'stsd the pan they
would come to Carroll and myseli aud
say: I'VE want your consent 10
this" etc We, 81 course, refused.
Under tbs Consolidation, 81, 600, 900 In
stock aud the same amount in bonds
were Issued. 0i this slock ito old
company took $500, 0C0. In lieu Of their
original $500, Q " OF stock, and $500, 900
OF the bonds. The new company
(Citlre ~ took 10000 In stock and
t300. 900 In bonds; 100000 OF bonds
we're retained 10 pay of the debt Of
the old company, and the other $780,.
900 10 put the road In order. They at
first he Jitated 10 pay the pres do.
by Carroll and myself, bat
finally, scceding 20 our teims, pur-
chased our stock"
colonel, do the railroads perform
the service on the streets required
Of them by contrsct7"
"They ought ~ keep their tracks In
repair, but any one can see that they
do not"
"Do you think they give the public
efficient servioeT'
IL do not. On the other hand, l
think We have the poorest street rail-
way service OF any city In the conn.
Try"
,"And they pay nothing for the fran.
chlse1"
"0nly In the way Of an ad valorem
tax like other property and privilege
tax"
"what do YOU think Of the recent
proposition IN the APrKAL from
cable car company 10 pay 10000 9
year for the ifanchise ON Main street p
81 DO not lhink tile proposition rs-
rlously made. ! doubt very much II
eueh line would paw In . city Of this
tifs, In. The price offered 10 no. too
much. Why, some time ego the attor.
noy general OF NV O-lcaas was IN
my oili . and asked me how much the
car companies here paid for their
franchise and was attonished when l
told him no, a cent. They have about
ili,y.two miles q street railway In
that city, and he told me for
the franchise alone the com.
plny there paid the city $1,000 900
In oean caih besides, they pay taxes
like other property. do not doubt
that II the franchise for line on Main
street vas put no q, auclion-say for
fifty yeap-it would bring f260,0O
and then the company to pay lie reg.
uar tar g."
"whAt do you Thick Of the warfare
on President Ha DENT"
Il th'pk |, .'togotber wrong lie
has not violated the law. The opln.
lon Of Judge walker on that point 10
conclusive TO my mind. II is not even
q diversion Of the public funds where
they are used for another purpose,
whom there In no claim against that
iund. Hadden will be acquitted, !
think. l hope he will soon recover
aud come back here 20 take up tie
d ,hl where no lti "a. II, "a today,
In my opinion, more popular In Mem.
phis than he was before this trouble
began. He should feel assured that
he has the moral support Of q vast
majority Of the people=l mean the